Bloomberg: US considers sanctions against Turkey over S-400 missiles

20 June 2019
192 Views

Bloomberg news agency reports that the US is considering a series of sanctions against Turkey in response to Ankara’s agreement to buy the Russian S-400 missile system.

The Trump administration is weighing three sanctions packages to punish Turkey over its purchases of the Russian S-400 missile-defense system, according to people familiar with the matter.

The most severe package under discussion between officials at the National Security Council and the State and Treasury departments would all but cripple the already troubled Turkish economy, according to three people familiar with the matter, who asked not to be identified discussing internal deliberations.

Any of the options would come on top of the months-old U.S. pledge to cut off sales of the F-35 jet to Turkey if President Recep Tayyip Erdogan keeps his vow to buy the Russian system.

The idea with the most support for now is to target several companies in Turkey’s key defense sector under the Countering America’s Adversaries Through Sanctions Act, or CAATSA, which targets entities doing business with Russia. Such sanctions would effectively sever those companies from the U.S. financial system, making it almost impossible for them to buy American components or sell their products in the U.S.

The Turkish lira was trading 0.6% weaker against the dollar as of 12:05 p.m. in Istanbul, after falling as much 1.5% to 5.9171 on the news earlier Wednesday. Bonds and stocks fell, with the yield on 10-year government debt jumping 38 basis points to 18%. The benchmark Borsa Istanbul 100 Index was poised for its first loss in four days.

The Treasury Department referred questions to the State Department, which had no immediate comment on the sanctions plans.

Source: bloomberg.com

You may be interested

EU condemns Turkey expresses full support to Greece and Cyprus in dispute with Turkey
POLITICS
shares12 views
POLITICS
shares12 views

EU condemns Turkey expresses full support to Greece and Cyprus in dispute with Turkey

makis - Dec 13, 2019

The European Union leaders expressed their full support to Greece and Cyprus over the dispute with Turkey in relation to…

How A.I. could help find Alien planets & asteroids
WORLD
shares29 views
WORLD
shares29 views

How A.I. could help find Alien planets & asteroids

Panos - Dec 13, 2019

Artificial intelligence could aid in the search for life on alien planets and detection of nearby asteroids, according to NASA…

US Senate approves Armenian Genocide recognition with 405-11 votes
GREECE
shares29 views
GREECE
shares29 views

US Senate approves Armenian Genocide recognition with 405-11 votes

Panos - Dec 13, 2019

The US Senate officially recognized the Armenian Genocide on Thursday, in a move that runs counter to the wishes of…

Leave a Comment

Your email address will not be published.